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Sangamon Sun

Monday, November 25, 2024

Former state university employee Duran paid in $50K to pension fund, could collect $945K in retirement

Money041

Former state university employee Shayla Duran, who retired in November 2017, saved $50,197 toward a pension over 20 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Duran would collect as much as $945,144, according to a projection by Local Government Information Services (LGIS), which publishes Sangamon Sun.

The projection assumes Duran received $19,866 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Duran will have already received $61,404 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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